Veteran industrialist and Tata Sons Chairman Emeritus Ratan Tata passed away on Wednesday evening, PTI reported quoting a police official.
Tata was 86 years old.
Tata had been admitted to a Mumbai-based hospital on Monday, and he had said there was no cause for concern regarding his health and he is undergoing check-ups for age-related medical conditions.
Tata took over as the chairman of Tata Sons in March 1991 and retired on December 28, 2012. During his tenure, the Tata Group's revenues grew manifold, totalling USD 100.09 billion in 2011-12 from a turnover of a mere Rs 10,000 crore in 1991.
He returned as interim chairman of the group and handed over the baton of the group to N Chandrasekaran in January 2017 and moved to his role of Chairman Emeritus of Tata Sons.
Tata Sons Chairman N Chandrasekaran put out a statement announcing Ratan Tatas death, and described him as a "truly uncommon leader". You can read the statement here.